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💵 Cash-on-Cash Return Calculator

Cash-on-cash return measures annual cash flow divided by total cash invested. The most useful metric for comparing deals with different financing.

📍 Property Address (optional)
InputsYour Numbers
Purchase & Financing
Purchase Price?
$
Down Payment %?
%
Interest Rate %?
%
Closing Costs ($)?
$
Rehab / Improvements ($)?
$
As-Is Rental Income
Monthly Rent?
$
Vacancy %?
%
Pro Forma (After Plan)
Pro Forma Monthly Rent?
$
Operating Expenses
Property Tax / mo?
$
Insurance / mo?
$
Maintenance %?
%
Management %?
%
HOA / mo?
$
As-Is AnalysisCurrent
Enter values to see results
Cash-on-Cash Return
--
target 8%+
Annual Cash Flow
--
net per year
Monthly Cash Flow
--
after all costs
Total Cash Invested
--
down + close + rehab
Cash Flow Build-Up (Monthly)
Gross Rent--
Vacancy Loss--
Eff. Gross Income--
Operating Expenses--
Mortgage Payment (P&I)--
Monthly Cash Flow--
CoC Return Calculation
Down Payment--
Closing Costs--
Rehab Budget--
Total Cash Invested--
Annual Cash Flow--
CoC = Ann. CF / Cash In--
Pro FormaAfter Plan
Enter pro forma values
Pro Forma CoC
--
vs as-is
Additional Ann. CF
--
from rent increase
CoC at 30% Down
--
more cash, less CF
CoC at 25% Down
--
comparison
Pro Forma Cash Flow
Pro Forma Rent--
All Costs--
Monthly Cash Flow--
CoC Return--
Down Payment Sensitivity
CoC at 15% Down--
CoC at 20% Down--
CoC at 25% Down--
CoC at 30% Down--

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1
Enter Purchase & Financing
Price, down payment, rate, closing costs, and rehab all flow into total cash invested -- the denominator of your CoC return.
2
Enter Current Rent
Monthly rent drives annual cash flow. Be realistic -- use what it rents for today, not what you hope to get.
3
Fill in All Expenses
Every expense reduces cash flow. Management, maintenance, vacancy -- they all count. Zero out management only if you are certain you will self-manage.
4
Read CoC Return
CoC = Annual Cash Flow / Total Cash Invested. 8% is a commonly used target. 10%+ is excellent. Below 5% is generally not worth the effort for most investors.
5
Check Down Payment Sensitivity
The sensitivity table shows CoC at 15%, 20%, 25%, and 30% down. Lower down payment means less cash invested but higher mortgage payment and lower cash flow.
6
Compare As-Is vs Pro Forma
If you plan to raise rents, the pro forma column shows how CoC improves. Every $100/mo rent increase on $50K invested improves CoC by 2.4%.

Cash-on-cash return is the most practical metric for real estate investors. Unlike cap rate (which ignores financing), CoC measures what you actually earn on the money you put in your pocket.


Formula: CoC = Annual Cash Flow / Total Cash Invested. Total cash invested = down payment + closing costs + rehab budget. Annual cash flow = net cash after all expenses and mortgage payments.


Why CoC varies with financing: Putting 20% down on a $250K property means $50K invested. If you generate $5K/year cash flow, that is 10% CoC. If you had put 25% down ($62.5K invested), the same $5K would be only 8% CoC -- even though the property is identical. This is why more leverage (lower down) typically increases CoC return, up to the point where the higher mortgage payment erases the cash flow.

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